Stock exchange recommends 20 percent tax credit for listed companies

May 27

Stock exchange recommends 20 percent tax credit for listed companies

KARACHI: Pakistan Stock Exchange (PSX) has recommended a 20 percent tax credit should be granted to listed companies in order to encourage documentation of the economy. In its proposals for budget 2021/2022, the PSX said that it is generally observed that when companies opt for a listing on a stock exchange, their profits grow substantially […]

by Mrs. Anjum Shahnawaz

FBR issues cadre strength of IRS, Pakistan Customs

May 27

Taxation

FBR issues cadre strength of IRS, Pakistan Customs

ISLAMABAD: The Federal Board of Revenue (FBR) has updated the cadre strength of Inland Revenue Service (IRS) and Pakistan Customs Service (PCS) after creation of 41 additional posts by the finance division. According to the updated cadre strength, the FBR has seven BS-22 officers; five in IRS and remaining two in the PCS. In BS-21, […]

by Mrs. Anjum Shahnawaz

PTA receives Rs15.82bn from mobile operators as 2nd installment for license renewal fees

May 27

IT & Telecom

PTA receives Rs15.82bn from mobile operators as 2nd installment for license renewal fees

ISLAMABAD: Pakistan Telecommunication Authority (PTA) on Thursday said it has received an amount of Rs 15.82 billion (equivalent of $103.17 million) against second installment of License Renewal Fee from two Cellular Mobile Operators (CMOs); Telenor Pakistan and Pakistan Mobile Communication Ltd. (Jazz). The amount is being deposited in Federal Consolidated Fund (FCF) as per practice […]

by Mrs. Anjum Shahnawaz

Engro Polymer plans to setup Circular Plastics Institute

May 27

Corporate

Engro Polymer plans to setup Circular Plastics Institute

KARACHI: Engro Polymer and Chemicals Limited (EPCL) has planned to establish a Circular Plastics Institute (CPI), a not-for-profit thinktank, to promote research and development in Pakistan’s circular plastics economy, said a press release issued on Thursday. Pakistan faces the pervasive problem of plastic pollution as the country generated 3.9 million tons of plastic waste in […]

by Mrs. Anjum Shahnawaz

May 27

Stock & Commodity

PSX makes all time high volumes of 2.22bn shares as KSE-100 falls by 22 points

KARACHI: The benchmark index KSE-100 index of Pakistan Stock Exchange (PSX) fell by 22 points on Thursday as the market recorded all time high volumes of 2.22 billion shares in a single day. The Index closed at 46,791 points as against 46,812 points showing a decline of 22 points. Analysts at Arif Habib Limited said […]

by Mrs. Anjum Shahnawaz

Pakistan customs assures early disposal of valuation ruling issues

May 27

Pakistan Customs, Trade & Industry

Pakistan customs assures early disposal of valuation ruling issues

KARACHI: Pakistan Customs has assured business community of early resolution of pending valuation ruling issues on priority basis. Director General Customs Valuation Ms. Shahnaz Maqbool assured this at a meeting held with members of Pakistan Federation of Chambers of Commerce and Industry (FPCCI), a statement said on Thursday. According to the statement the FPCCI and […]

by Mrs. Anjum Shahnawaz

Rupee depreciates by six paisas in interbank

May 27

Money & Banking

Rupee depreciates by six paisas in interbank

KARACHI: The Pak Rupee ended down by six paisas against the dollar on Thursday due to demand for import and corporate payments. The rupee closed at Rs154.84 to the dollar from previous day’s closing of Rs154.78 in the interbank foreign exchange market. Currency experts said that the due to improved GDP growth forecast the domestic […]

by Mrs. Anjum Shahnawaz

KTBA recommends abolishing alternative corporate tax

May 27

Budget 2021-2022, Taxation

KTBA recommends abolishing alternative corporate tax

KARACHI: Tax practitioners have recommended to abolish alternative corporate tax (ACT) in the budget 2021/2022 as the levy is increasing cost of doing business. The tax bar in its proposals for the upcoming budget 2021/2022 recommended to abolish the ACT. As per section 113C of the Income Tax Ordinance, 2001, tax payable by company subject […]

by Mrs. Anjum Shahnawaz

Finance ministry, IMF meeting to finalize budget proposals

May 27

Budget 2021-2022, Finance

Finance ministry, IMF meeting to finalize budget proposals

ISLAMABAD: An important meeting of the ministry of finance with representatives of International Monetary Fund (IMF) will be held today evening (Thursday evening) to finalize the recommendations for budget 2021/2022. Senior officials of the ministry of finance, three representatives, including country head, of IMF and senior officials of Federal Board of Revenue (FBR) will attend […]

by Mrs. Anjum Shahnawaz

Bestway Cement announces to set up new plant

May 27

Corporate

Bestway Cement announces to set up new plant

KARACHI: Bestway Cement Limited on Thursday announced to setup Greenfield cement plant with a capacity of 7,200 tonnes of clinker per day at Mianwali. In a notice sent to Pakistan Stock Exchange (PSX), the company stated: “In view of increasing demand for cement in the country, Bestway Cement Limited has decided to set up a […]

by Mrs. Anjum Shahnawaz